By: IPP Bureau
Last updated : May 28, 2024 12:46 pm
Profit Before Tax is Rs. 220 crore, registering a commendable 64% growth
AstraZeneca Pharma India Ltd., a science-led biopharmaceutical company, has announced robust financial results for FY 2023-24. The company achieved total revenue of Rs. 1,330 crore, registering an impressive 29% growth in revenue. Profit Before Tax is Rs. 220 crore, registering a commendable 64% growth (PBT before exceptional items at Rs. 201 crore, up by 17% compared to previous financial year).
AstraZeneca India continues to advance its mission of transforming the future of healthcare by unlocking the power of science for the benefit of people, society, and the planet. The Company's commitment to innovation is reflected in its strong pipeline progress, reinforcing its position as a key player in the healthcare industry.
AstraZeneca globally announced its new Bold Ambition during the recently held Investor's Day, seƫng the stage for 2030 to deliver $80 billion in Total Revenue. This will be achieved through significant growth in its existing oncology, biopharmaceuticals and rare disease porƞolio, and by launching an expected 20 new medicines before the end of the decade, achieve industry leading growth and aim to be carbon negative.
Dr. Sanjeev Panchal, Country President and Managing Director, AstraZeneca India, commented, " FY 2023-24 was one of the strongest years for us in the country and we take immense pride in our consistent performance. AstraZeneca India products sales for first time cross Rs. 1,000 crore mark, delivering total revenue of almost INR ~1300 Cr. with growth of 29% this year. A successful execution of our growth through innovation strategy is helping us propel our ambition to be pioneers in science and lead in specialist disease areasin India. Science is guiding us, and our remarkable pipeline progress with 9 new medicines and indication approvals that we received last year, positions us optimally and we feel motivated to bring more innovative therapies faster and closer to patients in India.
Our scientific progress and great support from different states, peers, and industry stakeholders positions us optimally to achieve our purpose of leaving no patients behind in the therapy areas we are present in and sustainably continue our strive to contribute to people, society, and the planet."
Bhavana Agrawal, Chief Finance Officer, added, "Our strong full year performance is reflection of company's focus on being a specialist organization & strong operational execution. This achievement reflects our relentless pursuit of identifying and capitalizing on opportunities in a dynamic environment. It underscores our dedication to not only achieving financial excellence but doing so in a sustainable and strategic manner."
AstraZeneca India remains committed to driving positive impact through groundbreaking scientific advancements and looks forward to contributing to the well-being of communities.